Examlex
Oral Auctions
Public sales where goods or services are sold to the highest bidder through verbal bids, often conducted in real-time with an auctioneer.
Sealed Bid Auctions
A type of auction where all bidders submit their bids without knowledge of the bids offered by other participants, often used in government contracts and private sales.
Bid-Rigging
Bid-rigging is an illegal agreement between parties to manipulate the outcome of a bidding process to their advantage, often at the expense of others.
Knockout Auctions
Auctions where bidders are eliminated progressively as the bid value increases until only the highest bidder remains.
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